<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.1)
STRATEGIC DISTRIBUTION, INC.
(Name of Issuer)
Common Stock, Par Value, $0.10 Per Share
(Title of Class of Securities)
862701208
(CUSIP Number)
Stephen M. Davis, Esq.
Werbel McMillin & Carnelutti
A Professional Corporation
711 Fifth Avenue, New York, New York 10022, (212) 832-8300
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
May 24, 1996
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13-d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purposes of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 11
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 2 of 11
- ------------------- ------------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
George Soros (d.b.a. Soros Fund Management)
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
0
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
477,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.65%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN:IA
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 3 of 11
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Brahman Partners II, L.P.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
477,000
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
477,000
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
477,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.65%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 4 of 11
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
B-Y Partners, L.P.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
159,000
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
159,000
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
159,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.55%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 5 of 11
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Brahman Capital Corp.
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
636,000
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
159,000
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
636,000
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
159,000
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
795,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.76%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 6 of 11
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Brahman Partners
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
477,000
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
159,000
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
477,000
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
159,000
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
636,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.2%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 7 of 11
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Peter A. Hochfelder
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,272,000
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,272,000
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,272,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.42%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 8 of 11
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Robert J. Sobel
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,272,000
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,272,000
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,272,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.42%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 862701208 Page 9 of 11
- ------------------- -----------------
==============================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Mitchell A. Kuflik
- -----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------
4 SOURCE OF FUNDS*
N/A
- -----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------------------
8 SHARED VOTING POWER
1,272,000
- -----------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,272,000
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,272,000
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.42%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
==============================================================================
*SEE INSTRUCTIONS BELOW BEFORE FILLING OUT!
SEC 1746 (9-88)
<PAGE>
<PAGE> Page 10 of 11
AMENDMENT NO.1
TO THE
SCHEDULE 13D
Item 5. Interest in Securities of the Issuer
(a) As of the close of business on June 5, 1996, the Reporting
Persons, by virtue of the language of Rule 13d-3(d)(1)(i), may be deemed to
own beneficially in the aggregate the number and percentage of the Issuer's
Common Stock set forth opposite their names below (based upon the number of
Shares that were reported to be outstanding by the Issuer).
<TABLE>
<CAPTION>
==============================================================================
Name Shares of Common Stock Percentage
- -----------------------------------------------------------------------------
<S> <C> <C>
Brahman 477,000 1.65%
- -----------------------------------------------------------------------------
Capital 795,000 2.76%
- -----------------------------------------------------------------------------
Brahman Partners 636,000 2.20%
- -----------------------------------------------------------------------------
B-Y 159,000 0.55%
- -----------------------------------------------------------------------------
Hochfelder 1,272,000 4.42%
- ------------------------------------------------------------------------------
Kuflik 1,272,000 4.42%
- -----------------------------------------------------------------------------
Sobel 1,272,000 4.42%
- -----------------------------------------------------------------------------
Mr. Soros 477,000 1.65%
==============================================================================
</TABLE>
(c) On May 24, 1996, the Reporting Persons sold 1,200,000 shares of
the Issuer's Common Stock in connection with a public offering by the Issuer
of an aggregate of 8,200,000 shares.
(e) As of May 24, 1996, the Reporting Persons ceased to be the
beneficial owners in the aggregate of five percent or more of the Issuer's
Common Stock. This Amendment No. 1 is therefore a final filing.
<PAGE>
<PAGE> Page 11 of 11
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated: June 5, 1996
BRAHMAN CAPITAL CORP.
By:
----------------------------
BRAHMAN PARTNERS
By:
-------------------------
BRAHMAN PARTNERS II, L.P.
By: Brahman Partners
By:
-----------------------
Name:
General Partner
B-Y PARTNERS L.P.
By: Brahman Partners
By:
-----------------------
Name:
General Partner
- -------------------------------
Peter A. Hochfelder
- -------------------------------
Robert J. Sobel
- --------------------------------
Mitchell A. Kuflik
GEORGE SOROS
By:
---------------------------
Sean C. Warren
Attorney-in-Fact
<PAGE>
<PAGE> Page 11 of 11
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated: June 5, 1996
BRAHMAN CAPITAL CORP.
By: /s/ Brahman Capital Corp.
---------------------------
BRAHMAN PARTNERS
By: /s/ Brahman Partners
---------------------------
BRAHMAN PARTNERS II, L.P.
By: Brahman Partners
By: /s/ Brahman Partners II, L.P.
-------------------------------
Name:
General Partner
B-Y PARTNERS L.P.
By: Brahman Partners
By: /s/ B-Y Partners L.P.
-----------------------
Name:
General Partner
/s/ Peter A. Hochfelder
- -------------------------------
Peter A. Hochfelder
/s/ Robert J. Sobel
- -------------------------------
Robert J. Sobel
/s/ Mitchell A. Kuflik
- -------------------------------
Mitchell A. Kuflik
GEORGE SOROS
By: /s/ Sean C. Warren
--------------------
Sean C. Warren
Attorney-in-Fact
75534
